Korean fried rooster is in all the fashion and we’ve the Korean Wave to thank for it. From Kpop music to Kdramas, skincare, and trend, what the Korean Wave has delivered to america can be their big range of meals resembling kimchi, bulgogi, and now, Korean Fried Hen.
One model that’s quickly increasing throughout Asian nations just like the South Korea, Vietnam, Thailand, Philippines is Bonchon Hen. Well-known for his or her double frying method in creating that crispy and juicy fried rooster together with their candy and savory sauces, Bonchon Hen is interesting to a variety of shoppers.
How a lot does it price to open Bonchon Hen? To open this Korean fried rooster chain close to your space, you’ll want a minimal liquid capital of $250,000 and a minimal web price of $700,000. The funding vary to anticipate to begin this franchise is $472,279 to $1,162,172 and the franchise payment is $40,000.
However the large query is that this. Will Bonchon Hen resonate with shoppers longterm in america? You’ll discover my unbiased overview of this franchise idea under, together with the benefit and particular challenges this restaurant chain will face. Click on right here to take our 7-minute franchise quiz to be matched with a chance based mostly in your pursuits.
Monetary Necessities and Charges
Listed below are the fundamental monetary necessities and costs to anticipate when franchising Bonchon Hen:
| Charges / Bills | Monetary Quantity |
| Liquid Capital | Minimal of $250,000 |
| Internet Value | Minimal of $700,000 |
| Complete Funding | $472,279 to $1,162,172 |
| Franchise Price | $40,000 |
Bonchon Hen additionally accommodates Space Builders. That is for franchisees who want to signal on for a couple of restaurant. There’s an Space Improvement payment that’s credited to the franchise payment. This payment is $10,000 per retailer. So should you determine to join a number of franchises resembling 3 shops, your payment quantities to $30,000. This payment is non-refundable. Do notice that should you select to join a number of franchises, every retailer can have its personal Franchise Settlement and that Bonchon Space Builders obtain unique rights to territory.
Veterans can get a reduction of $10,000 off of their first unit franchise. Different charges to notice are the royalty payment which is 5% and advert royalty payment which is 1.5%. The time period of the settlement to run a Bonchon Hen franchise is 10 years and the franchise is renewable.
Common Gross sales / Income per Yr
In line with studies, Bonchon Hen’s international gross sales reached $327,338,189. For his or her United States location, a standard Bonchon Hen retailer makes $1,578,339 in annual gross sales based mostly on the 2022 numbers. They’ve seen a gross sales progress of 19.5% year-over-year, which is phenominal progress.
Bonchon Hen Franchise Info
| Complete Models | 409 (122 U.S.A) |
| Included Title | Bonchon Korean Fried Hen |
| Franchising Since | 2006 |
| Business | Fried Hen |
| Subsector | Korean Delicacies |
Bonchon’s roots will be traced again to 2002 within the metropolis of Busan, South Korea. Founder Search engine marketing Jinduk began the enterprise by promoting sauces to make use of on fried rooster. In 2006, he introduced the sauces to america to promote to eating places however determined to open a restaurant as an alternative. Thus, Bonchon Korean Fried Hen was born.
The title Bonchon interprets to “my hometown”. The restaurant was first situated in Fort Lee, New Jersey and grew to over 120 places in america at current. Apart from America, Bonchon additionally expanded to Cambodia, France, Myanmar, Philippines, Singapore, Thailand, and Vietnam. In complete, Bonchon has greater than 400 worldwide and home places.
One of many many causes for Bonchon’s recognition is the crispiness and juiciness of their rooster mixed with the flavour of the sauce. And eventhough the rooster is saucy, it’s not soggy and it nonetheless stays its crispiness. The key? Bonchon hand batters all their rooster and double fry them, a way that makes the surface of the fried rooster nonetheless crispy and the within juicy. Additionally they hand brush the sauce as an alternative of dunking them within the combination. Bonchon additionally has a chef based mostly in South Korea that develops all their recipes.
Bonchon affords wings, drumsticks, strips, and boneless fried rooster with selections of a spicy sauce or soy garlic sauce. And although they’re recognized for promoting fried rooster, Bonchon really affords extra Korean meals resembling bulgogi, japchae, tteokbokki, bibimbap, and extra.
An interesting unfold from Bonchon Hen.
To franchise Bonchon Korean Fried Hen, full the curiosity type right here or name them at 631-538-0244. You’ll get an preliminary dialog with them by way of telephone name as soon as they obtain your inquiry.
Reviewing of the Franchise Disclosure Doc comes subsequent. As soon as each events have mutually agreed on the phrases, franchisees can ship their accomplished software for remaining overview.
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A gathering with Bonchon’s operation government follows afterward. Franchisees could then signal the Franchise Settlement, undergo the method of securing the true property, begin your coaching as franchisee, and at last, witness and be part of the grand opening of your Bonchon location.
Bonchon has a number of layouts for potential franchisees to select from. As an example, their full-service dine-in restaurant requires a 2,000 to three,000 sq ft space. Different layouts embrace a dimension for a meals court docket arrange although no particular space dimension was made public.
Bryan Shin is at the moment the Chief Government Officer of Bonchon Korean Fried Hen. Their headquarters is situated in Dallas, Texas.
How A lot Does Bonchon Hen Make in Revenue?
In line with an unofficial estimate, a Bonchon franchise could make $414,202 in revenue yearly. The revenue margin is roughly round 26%.
Benefits of a Bonchon Hen Franchise
Franchising Bonchon Korean Fried Hen can result in a number of benefits for you. Listed below are a few of them it’s best to find out about:
Korean Fried Hen
The recognition of Korean Fried Hen has risen tremendously within the latest years. It appears prospects can’t get sufficient on the double-fried rooster glazed in quite a lot of signature sauces differentiates it from many different rooster institutions, giving it a singular place available in the market. Even Bonchon admits this. In a information report, Bonchon’s same-store gross sales had been up 5% within the yr 2022. You’ll be able to discover the full menu with costs at Bonchon proper right here.
Coaching
Coaching is essential when one is about to franchise a enterprise. This ensures that you’ve the required expertise to run the franchise from opening day and onwards. At Bonchon, coaching runs for two weeks at their Dallas headquarters. Coaching includes working with the supervisor and headquarters workers. Bonchon will ensure you are absolutely outfitted with all of the data to run their restaurant efficiently.
Globally Acknowledged and Take pleasure in
Bonchon is a reputation that’s well-known not simply in america however in a variety of areas world wide. Fried rooster can be a menu that diners get pleasure from exterior america.
Growth
Bonchon has plans to open 100 extra items in america. Apart from bodily shops, they’re additionally including ghost kitchens to their future growth. This goes to indicate that Bonchon has the foresight to proceed increasing and making the enterprise profitable.
Challenges of a Bonchon Hen Franchise
Bonchon poses some challenges should you determine to franchise with them. And like all different companies, one should be capable of anticipate these earlier than you go forward and signal that Franchise Settlement. Listed below are a few of them:
Competitors
Although it’s true that Korean fried rooster is a fan favourite, the business is full of large and small eating places providing this delicacies. There’s Kyochon, BBQ Hen, and Mother’s Contact. Bonchon should enhance their know-how and proceed to increase to ensure that them to struggle towards these different Korean fried rooster manufacturers.
Restricted Sauce Flavors
For a model that began due to their sauces, Bonchon has a restricted variety of sauce flavors to select from. Their mainstay is their spicy and soy garlic sauce. Occassionally, they’ll launch different flavors resembling BBQ. However different fried rooster chains that aren’t essentially Korean supply extra flavors of sauces resembling Wing Cease and Buffalo Wild Wings.
Restricted Model Consciousness in america
If Bonchon needs to battle it out towards different fried rooster companies in america, they have to be capable of enhance their variety of places and enhance their model consciousness in america. In states like California and Virginia there may be sturdy consciousness for the restaurant. However in states like Nebraska for instance there may be little or no consciousness of the idea and no places.
Relying on the place you intend to open in america, native diners will not be conscious of what you serve and received’t be acquainted with the model. This implies you’ll have to work tougher as a franchise operator to get the phrase in regards to the restaurant. Analysis the demand for Bonchon in your required location. Think about elements like demographics, competitors, and native style preferences.
Whereas rising, the variety of Bonchon places in america doesn’t come near rivals KFC that function hundreds of items throughout the nation. That is each a chance and a problem from an funding perspective.
Is the Bonchon Hen Franchise Proper For You?
Figuring out if Bonchon – or any franchise – is the suitable match for you requires cautious consideration of a number of elements. Listed below are steps and concerns that can assist you consider if Bonchon is the suitable franchise alternative for you:
Conduct a Self-Evaluation:
Ardour & Curiosity: Do you benefit from the meals and repair business? Are you passionate in regards to the services and products Bonchon affords? Do you suppose you’d wish to function a restaurant for the following 5 – 10 years?
Expertise & Expertise: Whereas not at all times obligatory, earlier expertise within the restaurant or service business will be helpful. Think about if in case you have related administration, advertising, or customer support expertise.
Danger Tolerance: All companies include dangers. Guarantee you’re snug with the potential dangers concerned in proudly owning a franchise. In the event you select the mistaken location for a restaurant, it may price you lots of of hundreds in funding losses.
Conduct Your Analysis:
Franchise Disclosure Doc (FDD): Receive and totally overview Bonchon’s FDD. It gives detailed details about the franchise, together with prices, obligations, franchisee help, and extra.
Speak to Present and Former Franchisees: Attain out to present and previous Bonchon franchisees. Their firsthand experiences can supply priceless insights into the day-to-day operations, challenges, and potential rewards.
Double fried rooster.
What’s an alternate Bonchon franchise?
One fried rooster chain you may franchise is Buffalo Wild Wings. Although they’re often called a sports activities bar as effectively, Buffalo Wild Wings can be fairly fashionable for his or her wings with totally different flavors of sauces. It is a restaurant model with a lot stronger model consciousness in america.
To franchise Buffalo Wild Wings, anticipate the preliminary funding to be round $2,466,500 to $4,604,800 and the franchise payment to be $25,000. To know extra about Buffalo Wild Wings, learn our full information in franchising them right here.
Has Bonchon Korean Fried Hen caught your consideration? I hope this information was ready that can assist you determine whether or not or not they’re price researching additional.
